10月28日，A股全天震荡，沪指一度站上4010.73点，盘中创下近十年新高。但午后，三大股指全线收 跌。 从资金流向看，科创相关行业板块相对坚挺。10月28日，主力资金全天净流入电池、软件开发、通信设 备、地面兵装、IT服务等行业板块。其中，主力资金净买入电池、软件开发、通信设备的金额分别为 39.83亿元、36.76亿元、36.63亿元。 近期，各路资金向科创赛道聚集的趋势仍在延续。除了权益基金加仓通信、电子、计算机等板块；10月 以来，科创芯片、电池、机器人方向的主题ETF亦获得较多资金青睐。 在机构看来，顺应国家战略、具备真实技术壁垒的科技企业将是A股投资的重要主线。 科创方向持续吸金 国庆假期后，A股持续震荡，市场成交量、杠杆资金情绪均有所回落。直到上周下半段，市场才开始呈 现回暖迹象，"此次沪指盘中突破4000点"则向市场释放出多重积极信号。 "从国内视角看，这体现了中国经济复苏预期的逐步稳固与政策的持续发力。财政与货币的协同宽松， 为消费和科技等具有复苏弹性的板块注入了信心，企业盈利预期改善，市场预期从谨慎转向乐观，制造 业PMI回暖亦有力印证了复苏动能。"黑崎资本首席战略官陈兴文向21世纪经济 ...

Group 1: Company Announcements - Shandong Zhi Yuan Heng Yue Technology Partnership is set to acquire 149 million shares of Shangwei New Materials, representing 37% of the total share capital, at a price of 7.78 yuan per share, with the acquisition period from September 29, 2025, to October 28, 2025 [1] - ZTE Corporation reported third-quarter revenue of 28.967 billion yuan, a year-on-year increase of 5.11%, but net profit fell by 87.84% to 264 million yuan [2] - Sungrow Power Supply announced third-quarter revenue of 22.869 billion yuan, up 20.83% year-on-year, with net profit reaching 4.147 billion yuan, a 57.04% increase [3] - ST Zhengping's stock was suspended for review due to a 152.42% increase in stock price from September 1 to October 28, 2025, with 21 days of trading limits reached [4] - Jiuquan Technology's subsidiary plans to invest 150 million yuan in establishing an industrial fund focused on chips and integrated circuits [5] - Yunnan Energy Holdings decided to terminate investment in 17 distributed photovoltaic projects, originally planned to invest 1.197 billion yuan, due to market conditions [6] Group 2: Financial Performance - Suli Co., Ltd. reported third-quarter revenue of 762 million yuan, a 26% increase, with net profit soaring 2750.24% to 59.418 million yuan [7] - Xianda Co., Ltd. posted third-quarter revenue of 586 million yuan, down 5.59%, but net profit surged 5447.46% to 59.849 million yuan [8] - Yutong Bus announced third-quarter revenue of 10.237 billion yuan, a 32.27% increase, with net profit rising 78.98% to 1.357 billion yuan [9] - Juchip Technology reported third-quarter revenue of 273 million yuan, a 46.64% increase, with net profit growing 101.09% to 60.271 million yuan [10] - Guanghong Technology's third-quarter revenue reached 2.937 billion yuan, up 57.46%, with net profit increasing 99.68% to 99.607 million yuan [11] - Mingzhi Electric reported third-quarter revenue of 729 million yuan, a 28.98% increase, with net profit rising 215.97% to 22.883 million yuan [12] - Zhongwei Semiconductor's third-quarter revenue was 269 million yuan, a 21.88% increase, but net profit decreased by 3.66% to 65.818 million yuan [13] - Yiming Pharmaceutical reported third-quarter revenue of 178 million yuan, a 10.37% increase, with net profit soaring 1934.12% to 44.206 million yuan [14] - Weilan Bio's third-quarter revenue reached 364 million yuan, an 8.09% increase, with net profit growing 205.02% to 35.063 million yuan [15] - Baiyunshan reported third-quarter revenue of 19.771 billion yuan, a 9.74% increase, with net profit rising 30.28% to 794 million yuan [16] - Giant Network announced third-quarter revenue of 1.706 billion yuan, a significant increase of 115.63%, with net profit growing 81.19% to 640 million yuan [17] Group 3: Share Buybacks and Contracts - Haida Group plans to repurchase shares worth between 1 billion and 1.6 billion yuan, with a maximum repurchase price of 62 yuan per share [18] - Bai Ao Intelligent has won a project worth 97.2217 million yuan from a large state-owned company [19] - Guangdong Construction signed a construction contract worth 1.924 billion yuan for a project in Guangzhou, which is expected to enhance the company's construction business scale and profitability [20]

21世纪经济报道记者 易妍君 10月28日，A股全天震荡，沪指一度站上4010.73点，盘中创下近十年新高。但午后，三大股指全线收 跌。 从资金流向看，科创相关行业板块相对坚挺。10月28日，主力资金全天净流入电池、软件开发、通信设 备、地面兵装、IT服务等行业板块。其中，主力资金净买入电池、软件开发、通信设备的金额分别为 39.83亿元、36.76亿元、36.63亿元。 近期，各路资金向科创赛道聚集的趋势仍在延续。除了权益基金加仓通信、电子、计算机等板块；10月 以来，科创芯片、电池、机器人方向的主题ETF亦获得较多资金青睐。 从外部环境看，陈兴文谈道，美联储降息步伐加快及美元走弱，提升了新兴市场的吸引力，外资加速回 流A股，不仅反映出全球资本对中国经济结构性转型的信心，更表明中国宏观韧性和长期增长潜力正在 被重新定价。这种内资热情与外资青睐的双轨资金流，共同向市场注入活力，推动市场风险偏好提升， 为投资者提供了长期战略布局的窗口。 外资的积极变化已有数据支撑。 来自国泰海通证券的数据显示，最近一周（10月20日—10月24日，下同），北向资金估算净流入100亿 元，此前一周（10月13日—10月17日）估 ...

Core Insights - Gao Nan, a well-known fund manager under Yongying Fund, has reported significant growth in the management of public funds, with total assets under management exceeding 50 billion RMB, reaching 51.43 billion RMB by the end of Q3 2025 [2][7]. Fund Performance - Gao Nan manages seven funds, including six equity funds and one bond fund, with over half of the total management scale attributed to the Yongying Stable Enhancement bond fund, which saw its scale increase from 7.528 billion RMB to 34.859 billion RMB in Q3 [3][9]. - The Yongying Ruixin fund also experienced substantial inflows, growing from 5.016 billion RMB to 14.417 billion RMB, with a year-to-date net value increase of over 84%, outperforming the market and ranking in the top 5 of its category [3][4]. Investment Strategy - In Q3, Gao Nan made significant adjustments to the portfolio, increasing exposure to the non-ferrous metals sector while reducing holdings in innovative pharmaceuticals, opting to replace A-share positions with Hong Kong-listed stocks [5][20]. - The non-ferrous metals sector has become the second-largest industry in the portfolio, with notable increases in holdings of Zijin Mining and new positions in Huaxi and Zhongfu [17][18]. Fund Composition and Adjustments - The overall portfolio maintained a high position, with the Yongying Ruixin fund's allocation decreasing slightly by 4 percentage points, while other funds increased their positions [11][12]. - The concentration of top holdings in the Yongying Ruixin fund decreased, while the Yongying Growth Voyage and Yongying Huian funds saw an increase in concentration [15][16]. Notable Stock Movements - In the innovative pharmaceutical sector, there was a structural adjustment, with a significant reduction in the allocation to leading stocks while increasing positions in others like Kangfang Bio and Baijie Pharmaceutical [20][21]. - New additions to the portfolio included high-performing stocks such as Industrial Fulian and Zhongji Xinchuan, which have seen substantial price increases this year [28][29]. Overall Fund Performance - Other funds managed by Gao Nan, such as Yongying Growth Voyage, Yongying Huian, and Yongying Ruixin, have also achieved impressive net value growth, with increases of 104.88%, 117.7%, and 112.88% respectively since inception [26][27].

Core Viewpoint - PuTian Technology (002544.SZ) reported a decline in revenue and net profit for the first three quarters of the year, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 3.152 billion yuan, a year-on-year decrease of 7.82% [1] - The net profit attributable to shareholders was 17.5567 million yuan, down 3.8% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 6.6096 million yuan, reflecting a significant decline of 43.06% year-on-year [1]

Core Insights - The company reported a revenue of 100.52 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 11.6%, with a net profit attributable to shareholders of 5.32 billion yuan [1][2] - The decline in domestic telecom infrastructure investment has pressured operator network revenue, while the enterprise business has seen significant growth, with a 130% year-on-year increase [1][4] - The company is focusing on AI infrastructure deployment and upgrading, achieving a 180% year-on-year growth in computing power revenue, which now accounts for 25% of total revenue [1][4] Financial Performance - Revenue for the first three quarters reached 100.52 billion yuan, with a net profit of 5.32 billion yuan and a non-recurring net profit of 3.88 billion yuan [1] - R&D expenses totaled 17.81 billion yuan, accounting for approximately 18% of revenue [4] Business Segments - The operator network revenue faced challenges due to a decline in domestic market performance, while international markets showed growth [1] - The enterprise business has experienced robust growth, with a 130% increase in revenue year-on-year [1] - Consumer business revenue has maintained steady growth, with personal business revenue achieving double-digit growth [6] AI and Technology Development - The company is integrating AI into its ICT technology base, enhancing network capabilities and expanding AI application scenarios [4][5] - The company has achieved significant advancements in AI-driven technologies, including the launch of various AI products and solutions across multiple industries [5][11] Market Position - The company ranks second globally in the shipment of 5G base stations and core networks, maintaining a leading position in fixed network products [4] - The company has a 44.5% market share in the cloud terminal market in China, continuing to lead in this segment [7] Product Innovations - The company has launched innovative AI cloud computer terminals and various consumer electronics, including the Nubia Z80 Ultra smartphone and AI-enabled home products [9][7] - The company is focusing on creating a smart ecosystem for families and individuals, integrating AI capabilities into various consumer products [6][7]

Market Overview - A-shares experienced a slight decline on October 28, with the Shanghai Composite Index losing the 4000-point mark. The shipbuilding sector saw significant gains, while sectors such as precious metals, energy metals, and wind power equipment faced notable declines [1]. Fund Flow Analysis - The net outflow of main funds in the Shanghai and Shenzhen markets reached 34.079 billion yuan. Five sectors saw net inflows, including defense and military, building materials, and household appliances, with inflows of 999.3 million yuan, 301 million yuan, and 149 million yuan respectively [1]. - The power equipment sector led the outflow with a net amount of 10.889 billion yuan, followed by non-ferrous metals, telecommunications, and machinery equipment, each exceeding 3 billion yuan in outflows [1]. Individual Stock Performance - Nine stocks recorded net inflows exceeding 400 million yuan, with Sanhua Intelligent Control leading at 1.098 billion yuan, followed by Duofuduo at 955.6 million yuan. Sanhua's stock price reached a historical high [2][3]. - Newly listed stocks N He Yuan-U and N Yi Cai-U attracted net inflows of 825 million yuan and 693 million yuan respectively. N He Yuan-U specializes in innovative biopharmaceuticals, while N Yi Cai-U focuses on 12-inch silicon wafer production [4]. Tail-End Fund Flow - At the end of the trading day, three stocks, including Sanhua Intelligent Control, received net inflows exceeding 100 million yuan, with Sanhua alone attracting 307.44 million yuan [7][8]. - Conversely, stocks like Zhongxing Communication and Shenghong Technology experienced significant net outflows, with Zhongxing seeing an outflow of 1.244 billion yuan [6][9].

每经AI快讯，10月28日，中兴通讯公告，第三季度营收为289.67亿元，同比增长5.11%；净利润为2.64 亿元，同比下降87.84%。 （文章来源：每日经济新闻） ...

Core Insights - The company reported a revenue of 205 million yuan for the third quarter, representing a decline of 34.93% [1] - The net profit for the third quarter was 21.51 million yuan, down 70.29% [1] - For the first three quarters, the total revenue was 584 million yuan, a decrease of 29.01% [1] - The net profit for the first three quarters was 75.12 million yuan, reflecting a decline of 52.81% [1]

Core Insights - ZTE Corporation (00763.HK) reported a revenue of approximately RMB 28.967 billion for Q3 2025, representing a year-on-year increase of 5.11% [1] - The net profit for the same period was approximately RMB 264 million, showing a significant year-on-year decline of 87.84% [1] - Basic earnings per share stood at RMB 0.06 [1] Financial Performance - For the first three quarters of 2025, ZTE's revenue reached approximately RMB 100.52 billion, reflecting a year-on-year growth of 11.63% [1] - The net profit for the first three quarters was approximately RMB 5.322 billion, which is a year-on-year decrease of 32.69% [1]